Zac, I understand what you're suggesting perfectly except it...

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Reply to Msg 16118

Zac,

I understand what you're suggesting perfectly except it is not applicable in Haiti.

Zac it is not fo no reason why there isn't a credit system in Haiti Thomas.

It isn't for no reason why everybody buys everything in cash including cars, Mersedez, BMW, homes, etc...

all that is due to the non-existence of the proper financial infrastructures in Haiti.

Zac, there was a "cooperative" program in Haiti before ti bonnom yab bay pou Aristide la fled Haiti.

Hundreds of people contributed their life saving into that fund and come to find out Aristide and his mercenary gangs stole every penny from that cooperative funds.

Loaning money to Haitians in Haiti is equal to giving it away to a lost fund because the bank will not get the money back. There are no laws to enforce this type of practices in Haiti and there is no regulatory law either.

Another thing about your suggestion that will not work, Zac understand that all financial institutions have to and must be regulated by the federal/central government, wheter it's private or commercial.

The government will not run such bank you are proposing but it must and will be regulated by the government and there is no way around that.

Second, government is not in the business of promoting banks.

Those who are running/managing those bank must be the ones to doing such promotion/advertisement by giving good reasons why the public and the business community must invest in their banks.

I really don't have a smart answer to your suggestion, but one thing I know for sure is that I would not advice anyone to put such a bank in place in Haiti.

Tiba, August 2 2009, 1:44 PM

Topic: Haiti and the future

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